Loading ...In Potentially “Lethal Blow” For Obamacare, US Appeals Court Finds Insurance Subsidies Invalid In Most States
Tyler Durden’s pictureSubmitted by Tyler Durden on 07/22/2014 10:50 -0400
It may be back to square 1 for Obamacare.
Moments ago, in what NBC classified as a “potentially lethal blow to Obamacare” a federal appeals court has ruled that the federal government may not subsidize health insurance plans bought by people in states that decided not to set up their own marketplaces under Obamacare. The law clearly says that states are to set up the exchanges. But 34 states opted not to, and the federal government took over in those states. The court ruled that federal government may not pay subsidies for insurance plans in those states.
As the Hill reports further, the D.C. Circuit Court of Appeals said the Affordable Care Act does not permit the IRS to distribute premium subsidies in the federal ObamaCare exchange, meaning those consumers must bear the full cost of their insurance.
But… they said socialism is for the greater good!?